Cargojet (TSE:CJT) Downgraded to Hold at Canaccord Genuity

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Canaccord Genuity cut shares of Cargojet (TSE:CJT) from a buy rating to a hold rating in a report issued on Thursday morning, BayStreet.CA reports. Canaccord Genuity currently has C$100.00 price objective on the stock, up from their prior price objective of C$95.00.

Several other analysts also recently weighed in on CJT. CIBC reaffirmed a hold rating and set a $2.50 price target on shares of Advantage Oil & Gas in a research note on Thursday, July 18th. National Bank Financial raised shares of Slate Office REIT from a sector perform under weight rating to an outperfrom under weight rating in a research note on Tuesday, May 7th.

TSE:CJT traded up C$3.11 on Thursday, reaching C$96.75. 46,572 shares of the company’s stock traded hands, compared to its average volume of 43,354. The company has a debt-to-equity ratio of 410.27, a quick ratio of 0.50 and a current ratio of 0.59. The stock’s 50-day moving average is C$87.24. The stock has a market capitalization of $1.25 billion and a price-to-earnings ratio of 82.76. Cargojet has a 12 month low of C$63.71 and a 12 month high of C$98.80.

Cargojet Company Profile

Cargojet Inc provides time sensitive overnight air cargo services in Canada. Its air cargo business activities include operation of domestic overnight air cargo co-load network between 14 cities in Canada; and provision of dedicated aircraft to customers on an aircraft, crew, maintenance, and insurance (ACMI) basis operating between points in Canada, North and South America, and Europe.

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